Toyota moving headquarters to North Texas - Dallas News | myFOXdfw.com

Toyota moving headquarters to North Texas

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PLANO, Texas - Toyota confirmed Monday its new headquarters for manufacturing, sales and marketing, and corporate operations will be in Plano.

The decision will affect about 4,000 employees who currently work at Toyota offices in Torrance, Calif., Erlanger, Ky. and New York, N.Y.

"When a company makes a decision like this, this is not a five ten year decision," said Plano Mayor Harry LaRosiliere. "They were in California since 1957, so you see how long they were part of that community."

Toyota said it will build a new building in Plano, with groundbreaking in fall 2014 and opening in 2016. Toyota said it will operate out of temporary offices until its building is completed. The location of the new building is expected to be in the Legacy development off the Dallas North Tollway on vacant land near the J.C. Penney headquarters.

Employees will start re-locating to Plano later this year.

Texas Gov. Rick Perry said the state offered the automaker $40 million from the Texas Enterprise Fund, taxpayer money used to lure businesses to the state.

“It was very obvious Texas wanted Toyota, but we wanted them as well,” said LaRosiliere.

Talks between Toyota and state officials began a few years ago, and Plano joined the mix three months ago, according to its mayor.

The taxpayer-backed Texas Enterprise Fund offered $40 million in tax incentives and abatements, but LaRosiliere wouldn't disclose how much his city is putting up.

Real estate and transactions, for the most part, are not discussed in a public forum until we're prepared to put it on the agenda item, and it'll be there for people to see,” he said.

The new complex will combine Toyota's manufacturing, sales, marketing and corporate offices.

The automaker doesn't know how many existing employees will want to move to North Texas, but Plano leaders expect a lot of hiring.

“It's good to see the economy get boosted any way that it can help…so, people going to work that might not have had the opportunity,” said Carol Evans, who works in Plano.

Last year, Gov. Perry campaigned on-air for businesses to leave California, Illinois and New York for the business-friendliness and light regulation of Texas.

His counterpart in California didn't care for the tactic.

“A lot of these Texans that come here, they don't go back,” said CA Gov. Jerry Brown (D). “Who'd want to spend their summers in 110 degree heat inside some kind of a fossil-fueled air conditioner?”

Plano estimates that over 10 years, Toyota will add $70 million in new property tax revenue and $70 million in sales tax revenue.

“I think the governor has done a good job in attracting businesses to come here to Texas…it shows the rest of the nation we're strong here in Texas, and we have a lot to offer,” said Damian Caruso, who lives and works in Plano.


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